China Stands by Position That Phase One US Trade Deal Must Reduce Tariffs
China stood by its position that tariffs must be reduced if it reaches a phase one trade deal with the U.S., despite recent comments from President Donald Trump (see 1911080042) that the U.S. has not agreed to lift any tariffs. “China believes that if the two parties reach a first-phase agreement, tariffs should be reduced accordingly,” a China Ministry of Commerce spokesperson said Dec. 5, according to an unofficial translation. The spokesperson said the two sides “have been maintaining close communication.”
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The spokesperson was also critical of the situation involving the World Trade Organization's dispute settlement body, which will cease to function Dec. 10 because the U.S. is blocking appointments to the body (see 1911220062). “This undermining of the multilateral trading system has been condemned by the vast majority of WTO members,” the spokesperson said. China is working with other WTO members to “resolve the crisis,” the spokesperson said. “At the same time, we are also studying relevant countermeasures, working hard to maintain the operation of the WTO dispute settlement mechanism, and defending the rules-based multilateral trading system.”